With the launch of Koraplay’s MVP drawing closer, there was a need for the team to hold an AMA session to give the large audience who have joined the community a broader sense of what Koraplay is about and also give them a chance to ask any question they may have on the benefit of the product.
The AMA session was held on Friday, March 25th, 2022, with the Koraplay co-founders, Charles Madu (CEO of Koraplay) and James Chikelu (COO of Koraplay), and a special guest, Jude Dike, (CEO of GetEquity).
The session started with the Co-founders and Guest Speaker introducing themselves and giving the audience an insight into their background and their source of motivation to build Koraplay.
Thereafter, the floor was opened up for the audience to ask their questions.
We have made a compilation of some questions asked and here are with answers:
Q1: Do creators have to earn anything to make money from Koraplay? I mean, you know you have to follow some rules to earn money from Facebook pages and other social media. So, are there any rules like that?
A: We take decentralization seriously. We, therefore, don’t have any forced rules on anyone. In Koraplay, whether you are a creator or fan, you earn. There are, however, added advantages that come with holding the governance token (KORA). Some benefits of holding KORA include participation in the platform’s governance processes, and earning staking rewards. Over the coming months we will create more utilities for our precious KORA token holders. KORA = hodl.
Q2: Koraplay is currently working on #BNBChain. Are there any plans of further bridging with other ecosystems in the nearest future?
A: We are definitely planning to accommodate everyone by bridging with the popular chains. But for a start, we are building on BSC because of scalability, cheap transaction fees, and speed. When the right time comes, we will be exploring other chains like Ethereum, Solana, Polygon, Avax, etc. The goal is to make Koraplay a multi chain compatible product.
Q3: How can developers and creators earn from the Koraplay project?
A: Creators earn by creating & sharing content, tipping from fans, and deciding to charge in their spaces. Koraplay doesn’t have its native blockchain right now, but once it’s out, developers are going to be rewarded when they contribute to the development of the chain
We are also planning to organize hackathons empowering devs to build ‘the future of social media and content creation products
There are however other general ways of earning like staking and liquidity mining
Q4: What phase are we on in the @Koraplay roadmap?
A: We are winding up the 1st quarter of 2022, (delivering an MVP)
Q5: Is Koraplay planning to involve or include one of the biggest trends in web3 (NFTs) in the project?
A: We are certainly looking forward to incorporating NFTs and other web 3 trends like metaverse in our Koraplay ecosystem. We are however currently following our roadmap, hence both NFTs and Metaverse will come later than indicated by our roadmap since our main focus right now is delivering an MVP to our beloved community.
Q6: What are the plans for achieving mass adoption?
A: Creating substantial growth strategies like Ambassador programs to spread the news about the project beyond the web3 space.
We are also running both paid and unpaid marketing campaigns to fast-track the product outreach. In addition, we are reaching out to web3 and web2 influencers and will be organizing campus outreach programs in the coming weeks.
Q7: So many projects just like to speak about the “long term vision and mission” but what are your short term objectives? What are you focusing on right now?
A: At the moment we are focusing on building and driving engagement in all our communities, building and testing out our MVP, And raising funds to ensure continuity of the project towards the achievement of the long term product goals and objectives
Q8: I am interested in investing in Your project. Where can I buy Your Tokens? Is it already listed on exchanges?
A: We will be conducting IDOs in select decentralized exchanges to be announced later, you will therefore be able to invest in Koraplay by participating in the IDOs. We will also be listing in pancake swap and other exchanges to allow you to buy, sell and swap
To have knowledge of the entire conversation had during the Koraplay AMA session, click on the link for the full recording:
Participants who asked questions and actively participated in the session will be rewarded with $5000 worth of KPLAY Tokens with remittance to be made in May 2022.
We will be hosting more AMA sessions in the near future and still reward active participants, so if you are interested in being a part of them, visit our website at www.koraplay.org and join our email waitlist.
Koraplay is a decentralized social media and entertainment platform. Users can create and share exciting content and get cryptocurrency rewards according to their activities on the platform.
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